Snowflake Inc [NYSE: SNOW] loss -1.68% on the last trading session, reaching $152.97 price per share at the time. The company report on March 28, 2024 at 9:01 AM that Snowflake Revolutionizes Secure, Cross-Cloud Collaboration for High Value Business Outcomes with Snowflake Data Clean Rooms.
Snowflake (NYSE: SNOW), the Data Cloud Company, today announced the general availability of Snowflake Data Clean Rooms to customers in AWS East, AWS West, and Azure West, revolutionizing how enterprises of all sizes can securely share data and collaborate in a privacy-preserving manner to achieve high value business outcomes in the Data Cloud. The general availability follows Snowflake’s acquisition of data clean room technology provider Samooha, which was named one of the most innovative data science companies of 2024 by Fast Company. Samooha is now integrated into the Data Cloud and enhanced by the unified set of compliance, security, privacy, interoperability, and access capabilities of Snowflake Horizon.
Businesses across industries need solutions to navigate the complexities of sharing sensitive data with external partners and customers, while maintaining data privacy and security. Data clean rooms have emerged as the technology to meet this need, enabling interoperability where multiple parties can collaborate on and analyze sensitive data in a governed way, without exposing direct access to the underlying data. Until now, data clean room technology was generally deployed by large organizations with access to technical data privacy experts.
If compared to the average trading volume of 7.13M shares, SNOW reached a trading volume of 3582092 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Snowflake Inc [SNOW]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNOW shares is $216.98 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNOW stock is a recommendation set at 1.85. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Rosenblatt have made an estimate for Snowflake Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 05, 2024. While these analysts kept the previous recommendation, Redburn Atlantic dropped their target price from $180 to $125. The new note on the price target was released on March 19, 2024, representing the official price target for Snowflake Inc stock.
The Average True Range (ATR) for Snowflake Inc is set at 5.56, with the Price to Sales ratio for SNOW stock in the period of the last 12 months amounting to 18.22. The Price to Book ratio for the last quarter was 9.88, with the Price to Cash per share for the same quarter was set at 11.51. Price to Free Cash Flow for SNOW in the course of the last twelve months was 65.63 with Quick ratio for the last quarter at 1.81.
Trading performance analysis for SNOW stock
Snowflake Inc [SNOW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.03. With this latest performance, SNOW shares dropped by -5.74% in over the last four-week period, additionally sinking by -5.46% over the last 6 months – not to mention a rise of 3.52% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNOW stock in for the last two-week period is set at 33.10, with the RSI for the last a single of trading hit 33.29, and the three-weeks RSI is set at 35.03 for Snowflake Inc [SNOW]. The present Moving Average for the last 50 days of trading for this stock 187.21, while it was recorded at 153.72 for the last single week of trading, and 174.29 for the last 200 days.
Snowflake Inc [SNOW]: A deeper dive into fundamental analysis
Snowflake Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.81 and a Current Ratio set at 1.81.
Snowflake Inc [SNOW]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Snowflake Inc posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 200.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNOW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Snowflake Inc go to 18.05%.
An analysis of Institutional ownership at Snowflake Inc [SNOW]
The top three institutional holders of SNOW stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SNOW stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SNOW stock with ownership which is approximately 5.8386%.
